Decisions with Endogenous Frames (Replaces CentER DP 2010-21)
AbstractThis paper contrasts the normative implications of a model of decision- making with endogenous frames to those of choice theoretic models of Bernheim and Rangel (2007, 2009) and Rubinstein and Salant (2008) in which observed choices are determined by exogenous frames or ancillary conditions. We argue that frames, though exogenous to the individual at the point when choices are made, matter for welfare purposes.
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Bibliographic InfoPaper provided by Tilburg University, Center for Economic Research in its series Discussion Paper with number 2010-142.
Date of creation: 2010
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Web page: http://center.uvt.nl
Decisions; choice; frames; standard; behavioral; welfare;
Find related papers by JEL classification:
- D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
- D62 - Microeconomics - - Welfare Economics - - - Externalities
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
- I30 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General
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